As a further component of the continuing effort to insure that Kentucky
has the most up-to-date business entity statutes, the 2012 General Assembly
approved an enactment of the Uniform Statutory Trust Entity Act (USTA), a
product of the National Conference of Commissioners of Uniform State Laws
(NCCUSL) approved by that body in 2009.

With
this enactment, Kentucky moves to the forefront of states having modern
statutory trust laws, it being the first state to enact the USTA. Still, even
as the overall structure of USTA has been adopted in Kentucky, significant
departures from the Uniform Act have been incorporated into the Kentucky law
(KyUSTA). These departures have been dictated by either the desire for greater
specificity in the wording employed, by the need to conform to the Kentucky
Business Entity Filing Act (KyBEFA) or, in several instances, substantive
policy determinations at odds with those made by NCCUSL.